TraceLink Raises $51.5M Series C to Accelerate Growth
TraceLink Inc., the World’s Largest Track and Trace Network for connecting the life sciences supply chain and eliminating counterfeit prescription drugs from the global marketplace, today announced that it has raised $51.5M in Series C financing led by Goldman Sachs Growth Equity (GS Growth), with participation from Series A and Series B investors, FirstMark Capital, Volition Capital, and F-Prime Capital. TraceLink is also announcing that Jason Kreuziger from Goldman Sachs and Amish Jani of FirstMark Capital have joined its Board of Directors.
This investment will enable TraceLink to improve its position in the global pharmaceutical track and trace industry, providing manufacturers, distributors and dispensers with a cost-effective solution to secure the drug supply chain and protect patients from counterfeit medicines, a problem that causes hundreds of thousands of deaths and leads to an estimated $75 billion in lost industry revenue each year. The TraceLink Life Sciences Cloud enables any company in the pharmaceutical supply chain to implement an interoperable system for tracking and tracing authentic prescription medicines, which will be required by law in 50 countries by the year 2020, to combat the rise of counterfeit drugs. Today, more than 450 life sciences companies rely on TraceLink to meet track and trace regulations worldwide.Back to News